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Manas Jaiswal of manasjaiswal.com has buy call on Indo Count Industries with a target price of Rs 130. 

MUMBAI: Sweden is looking for a joint project with the Aditya Birla Group in the area of smart textiles as part of their effort to increase bilateral trade, a senior Swedish government official said. 

The State Industries Minister of Kerala AC Moideen has recently flagged the first shipment of yarn from the Thiruvananthapuram district which is being exported to China and Thailand for manufacturing jeans and bed sheets.

The spot rates of cotton have reduced by Rs100/maund as recorded at the Karachi Cotton Exchange. The spot rates decreased to Rs6,450/maund (37.324kg) and Rs6,912/40kg. Ex-Karachi rates also fell to Rs6,595/maund and Rs7,067/40kg after an addition of Rs145 and Rs155 as upcountry expenses, respectively.

Sharp increase in cotton yarn prices in Pakistan by almost 20% has hit hard the export-oriented value-added textile sector. Newly-elected senior vice chairman of The Pakistan Readymade Garment Manufacturers and Exporters Association( PRGMEA,North Zone), Sheikh Luqman Amin said that the unprecedented surge in cotton yarn rates during the cotton crop season is not understandable, as the prices are usually at the lowest ambit these days.

Mr. Sven-Erik Bucht Minister for Rural Affairs from the Ministry Of Enterprise And Innovation Sweden arrived in Mumbai today to discuss a joint project on smart textiles involving potentially Aditya Birla Group, Swedish company Domsjo and the two governments as well as the EU.